Solar Panel Cost Guide in Lancaster, NY (2023 Update)
- Lancaster Solar Installation Cost: $9,453
- 25-Year Savings: $5,699
- Payback Period: 15.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lancaster
See how much it might cost to make the switch to solar in Lancaster.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lancaster, the typical cost of solar panels is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,458 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Lancaster depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. Despite the significant initial cost, the average Lancaster homeowner can save about $13,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free quote from a highly rated solar company in Lancaster, you can click the button below.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,627 |
| 3 years | $-6,975 |
| 5 years | $-5,323 |
| 7 years | $-3,671 |
| 9 years | $-2,020 |
| 11 years | $-368 |
| 13 years | $1,284 |
| 15 years | $2,936 |
| 17 years | $4,588 |
| 19 years | $6,240 |
| 21 years | $7,891 |
| 23 years | $9,543 |
| 25 years | $11,195 |
Top Solar Installers in Lancaster
When making the switch to solar, many homeowners prefer to use a solar company since overseeing your solar installation yourself can be a difficult project. Plus, if you're unsure what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Lancaster, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lancaster
Factors that Affect Solar Panel Costs in Lancaster
Though the average cost of a solar system in Lancaster is $9,458, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Lancaster. There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lancaster to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Lancaster, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $6,974 | 16.2 years |
| 8 kW | $3.01 | $16,850 | $9,629 | 15.9 years |
| 10 kW | $2.95 | $20,650 | $12,449 | 15.6 years |
| 12 kW | $2.89 | $24,284 | $15,435 | 15.3 years |
| 14 kW | $2.83 | $27,754 | $18,585 | 15.0 years |
| 16 kW | $2.77 | $31,058 | $21,901 | 14.7 years |
| 18 kW | $2.71 | $34,196 | $25,382 | 14.3 years |
| 20 kW | $2.66 | $37,170 | $29,028 | 14.0 years |
How to Save on Solar Panels
There are a lot of companies available in Lancaster, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lancaster, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lancaster?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lancaster?
A solar panel system isn't free in Lancaster, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Lancaster?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.